Joint Owned Property

Joint-owned property gives families, couples, and business partners a way to share ownership, rights, and tax benefits. Here’s everything you need to know about how it works, its types, and its advantages
Secure your future with Bajaj Finance FD
4 min
29-September-2025

Joint-owned property refers to real estate owned by two or more individuals, where each person holds a share in the asset. This arrangement is popular among spouses, families, and business partners as it ensures shared rights, responsibilities, and smoother succession. In India, joint ownership also helps with tax planning and wealth distribution. Depending on the ownership type, co-owners may have equal or defined shares.

While property investments are often seen as long-term, pairing them with secure financial tools like a Bajaj Finance Fixed Deposit (FD) can provide stability and guaranteed returns—ensuring both your property and cash flows are working for you.

Types of joint ownership of property

There are multiple ways property can be jointly owned in India, each with its own rules for rights and succession:

  • Joint tenancy – Equal rights for all co-owners. If one passes away, their share automatically goes to the surviving owners.

  • Tenancy in common – Ownership shares can be unequal, and a deceased owner’s share passes to their heirs.

  • Tenancy by entirety – For married couples only. The property automatically transfers to the surviving spouse.

  • Co-ownership under partnership – Business partners own the property through a firm, with defined shares.

  • Ancestral property ownership – Inherited under Hindu Undivided Family (HUF) rules; every family member has a share.

  • Community property ownership – In certain states, property acquired during marriage is equally owned by both spouses.

  • Company-owned property – Real estate held by a company, managed according to shareholding.

  • Leasehold joint ownership – Multiple people lease property jointly, with rights defined by the lease agreement.

Along with property, you can also secure your liquid savings with a Bajaj Finance FD. It offers assured returns, unlike real estate, where market conditions may affect liquidity. Check FD rates.

Fixed Deposit

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  2. Fixed Deposits worth more than Rs. 50,000 crore booked
  3. Rated CRISIL AAA/STABLE and [ICRA]AAA(STABLE)
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  5. Flexible interest payout options available - Monthly, Quarterly, Half-yearly, Annually or at Maturity

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How does joint-owned property work?

The functioning of joint property depends on ownership agreements, financial obligations, and legal frameworks. Transactions must be registered under property laws to ensure clarity.

Co-owners share expenses such as maintenance, taxes, and loan repayments in proportion to their ownership. In case of death, the transfer depends on the type of ownership—through inheritance laws or survivorship rights.

For home loans, banks require consent from all co-owners. Loan eligibility is also based on the combined creditworthiness of the applicants. Rental income is shared according to ownership percentage and taxed individually. Proper documentation ensures smooth management and fewer disputes.

Just like joint property provides shared security, a Bajaj Finance FD provides peace of mind with guaranteed growth. You can choose a tenure between 12 to 60 months and enjoy competitive interest rates. Book FD.

Tax advantages of joint property rules

Joint ownership also provides certain tax benefits that make it financially attractive:

  • Home loan deductions – Co-owners who are co-borrowers can claim deductions under Section 80C (principal) and Section 24(b) (interest).

  • Capital gains division – On sale, gains are split among owners, reducing individual liability.

  • HRA and rental tax benefits – One co-owner can claim HRA while others benefit from reduced taxable rental income.

  • Stamp duty relief – Properties jointly registered, especially with women co-owners, may attract lower rates.

  • Wealth tax relief – Residential properties are generally exempt from wealth tax when co-owned.

Want to balance your tax planning with steady income? Investing in a Bajaj Finance FD allows you to lock in high FD rates (up to 7.30% p.a.) and plan finances without market-linked risks. Open FD account.

Conclusion

Joint property ownership is more than just a legal arrangement—it is a practical way to share responsibilities, reduce tax burdens, and plan inheritance smoothly. However, property also comes with risks like disputes, liquidity challenges, and changing market values.

That is why it is wise to complement property investments with secure instruments such as a Bajaj Finance FD. With assured returns of up to 7.30% p.a. for senior citizens and flexible tenures, Bajaj Finance FDs can safeguard your savings while your property builds long-term wealth. Invest now!

Frequently asked questions

Who is the main owner of a joint property?
In a joint property, all co-owners hold ownership rights based on their agreed share. No single person is the main owner unless specified in the ownership deed. The ownership structure, such as joint tenancy or tenancy in common, determines rights, decision-making authority, and succession rules. Legal agreements define each owner’s stake and responsibilities.

Why should I invest in Bajaj Finance FD if I already own property?

Property ensures long-term growth, but it is not liquid. A Bajaj Finance FD balances your portfolio with assured short- to medium-term returns and quick access to funds when needed. Check the latest FD rates and invest accordingly.

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Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.

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